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AMD, Halo and ConsenSys Team Up

The Ethereum-centric start-up incubator, ConsenSys, Advanced Micro Devices (AMD), the producer of GPU used by crypto-mining devices and the Abu Dhabi based Halo Holdings have come together to create W2BCLOUD, a blockchain-based cloud computing software, as indicated by the joint press release on January 4.

It announced that it was working with AMD and Halo Holdings to produce the so-called W3BCLOUD, a cloud computing architecture supported by the manufacturer's computing hardware made specifically for supporting decentralized applications. Both startups have revealed that they will be collaborating to develop a cloud computing infrastructure that will be based on the Blockchain technology.

ConsenSys will provide its blockchain software expertise to the project, providing insight into efficient compute usage for blockchain transactions, security requirements, and emerging use cases for the technology.

Joerg Roskowetz, who is the Director of product management and blockchain technology at AMD said that AMD will provide ConsenSys with access to "high-performance technologies competent of better scaling and expanding decentralized networks and services".

The platform thus developed will be able to cater the burgeoning demand from dominating companies as well as government listed agencies to deploy the technology with the aim to support enterprise data centers, smart identity, health ID tracking, supply chain management solutions, and licensing explained Roskowetz.

ConsenSys founder Joe Lubin stated that using AMD's hardware technology to boost Blockchain networks' computing power would help with the adoption of decentralized systems across the world.

AMD (market capitalization of about $18.9 billion) is one of the key players in the computer hardware space, and the partnership is particularly welcome considering that Consensys has recently been in the spotlight for laying off employees and restructuring the company due to the impact of the cryptocurrency bear market.

ConcenSys had in the last month signed a Memorandum of Understanding with South Korean technological holding SK Group. Several companies have taken major beatings due to the prolonged weak sales figures of crypto mining equipment, and AMD is no exception.